Seneca and Nextier Oilfield Solutions Inc (NYSE: NEX) will conduct an innovative study that will make them the pioneers in evaluating carbon emissions. Their efforts will focus specifically on the carbon emissions generated by the wide-ranging equipment commonly used in the natural gas wells and the hydraulic fracturing of oil.
What does the industry stand to gain from the companies’ efforts?
The industry looks forward to gaining from these two companies’ efforts. For instance, it will gain a comparative insight into the emissions coming from the different technologies. The industry relies on a great diversity of equipment. There happens to be the kind of technologies that rely on the Tier 4 diesel and the ones utilizing Tier 2 diesel. The natural gas-powered turbine engines happen to be quite popular as well.
Analysts consider the upcoming carbon emissions assessment by the two companies to be rather outstanding. Moreover, they believe that the assessment will stand out as the most elaborate one in testing real-time well stimulation operations conducted so far within the industry.
Reports indicate that there are plans underway to involve independent third-party testing, and it will cover all the technologies involved in Seneca’s field operations.
The other thing has to do with the anticipated emissions testing conforming to all the EPA-recommended procedures. NexTier says it is ready to provide the equipment and completions solutions.
The President of Seneca, Justin Loweth, applauds Seneca for its determination to limit the environmental impact. Seneca is working to find solutions that will cut down the greenhouse gas emissions coming from the various operations. He confirms that the tests will play a significant role in helping them derive comparative fact-based emissions data that will be useful in backing up Seneca’s efforts to select equipment accordingly. The company seeks to find equipment that satisfies its commitment to long-term sustainable operations.
The President and Chief Executive Officer of NexTier opined, “The NexTier team continues to demonstrate its leadership in providing low-cost, low-carbon solutions for top oil and gas producers like Seneca.”